Brokers
Make sure you have a good one
Choosing a broker to trade with is an important decision to make and should not be made lightly. You want a broker with low spreads, good liquidity and ideally one that doesn’t trade against you like Market Makers do. ECN’s are definitely the way to go.
I've always been against market makers as I don't like the idea of my broker taking the other side of my trade and therefore having an interest in me losing. With ECN brokers, prices are drawn from multiple market participants so the best prices are always displayed. Because of this spreads are variable which can mean very low spreads during active market hours.
The broker I use for my forex trading is called Dukascopy. They're a great broker. I have 2 accounts with them and I have never had any issues with them. You can find more details on them here.
Rebate
Trading is a business. As with any business there are costs, and the costs we pay are commissions. There isn’t a way around this when trading with an ECN broker but there is a rebate program that you can use to reduce the cost of your trading.
If you sign up and trade with Dukascopy then you will get 40% of your commissions back as a rebate each month. All you need to do is input the correct BI ID when prompted to during the sign up. The BI ID is 12104
This is a no brainer. A reduction in trading costs means you keep more of your profit. It’s that simple.
If your current broker doesn’t offer you a rebate or they don’t offer you as much as 40% then switch now to have more money in your pocket each month.
Click the button below to register now.